Viacom Contemplates Splitting Subsidiaries

Breaking news coming down from Variety - Viacom CEO Sumner Redstone said today that the company is considering splitting each of its subsidiaries off into individual brands for public trading. Without explicitly explaining how the move would work, Redstone indicated that the potential restructuring would serve to highlight fastest-growing sectors of his media empire, such as MTV. Shares of Viacom jumped 7.9 percent this afternoon to close at $37 on the NYSE. We'll have more as the story develops.